Subnostr

Interesting. So why did the miners eventually capitulate to nodes?

Because on the same day the BCH fork took place and it was somewhat symbolic. Also, Bitmain (the biggest supporter of BCH) moved to secure the new chain with some of its machines and posed less of an opposition.

At the time, it was rumored that they enabled an ASIC boost that made their miners more efficient and SegWit would remove this advantage. I’m not so sure if it was true, because post-fork there wasn’t a significant change in hash rate.

Tldr: a lot of ugly politics and suspicions of malevolence, which divided the community.

Reply to this note

Please Login to reply.

Discussion

Rich Nost 2y ago

Okay so that is unlikely a reproducible scenario? Meaning nodes willing to risk a fork weren't the key motivator for miners eventually capitulating to signaling SegWit?

Vlad, Bitcoin Takeover Podcast 2y ago

It was a special situation, but it marked a narrative change where the nodes are in control while the miners only do their hashing and block organization.

However, Taproot was activated by miners with blessing from the users (nodes). So the UASF tradition isn’t quite strong 😅

Rich Nost 2y ago

DO you think that a URSF would pose a significant enough risk to miners' operation costs that they would back off activating without node consensus?

Rich Nost 2y ago

🦗🦗

RealJohnDoe 2y ago

Absolutely, The Virtuous #fullnodes and #Bitcoin loyalists would cut their nuts off.

It's very likely we're going to drop #TaprRoot for the time being, and Murder! #inscriptions #Ordinals etc.

We may also suspend all #transaction #fees until near the end of the block rewards. They're not really needed, and it would help adoption, utilization and the value of Bitcoin..😱😐

Rich Nost 2y ago

Yeah probably not.

RealJohnDoe 2y ago

Why would you think that #Bitcoin wouldn't do what's in it's interest. It has the ABSOLUTE! power to do so..😱😆

Rich Nost 2y ago

I'm not saying you don't know what you're talking about.

But I don't know what you're talking about.

RealJohnDoe 2y ago

Bitcoin has a lot of subtleties to it. One thing that's not always so obvious is what is #Bitcoin. And how is it governed.

The Virtuous #fullnodes and Bitcoin loyalists ARE! Bitcoin. They are the only ones with any legitimate power to act on Bitcoins behalf. Because they're interest and Bitcoins interest are the same.

That's how #Satoshi #Nakamoto designed Bitcoins consensus. It's quite brilliant..👍😊

Vlad, Bitcoin Takeover Podcast 2y ago

He has no idea what he’s talking about 😂

The fees are very much necessary to secure Bitcoin, it’s even in the whitepaper.

Also, miners are important too.

Rich Nost 2y ago

I think he is attempting to be humorous.

RealJohnDoe 2y ago

No, I'm serious and so is Bitcoin. I don't think #Bitcoin needs #fees at this time. Maybe when we approach the end of the block rewards.

Anyway, whatever Bitcoin decides their will always be an incentive to mine Bitcoin. Some will profit and some won't.

All I know is that if you try and fuck Bitcoin, Bitcoin will fuck you..💀😁

https://youtu.be/IcInPRRfr9E?si=jhI8mkje_pRHyQB1

RealJohnDoe 2y ago

The "Virtuous" #fullnodes and Bitcoin #loyalist# ARE! #Bitcoin.

Without the approval and support of the Virtuous #fullnodes and Bitcoin loyalist it's not Bitcoin.

Let me say that again. "Without the Approval and Support of the Virtuous #fullnodes and Bitcoin loyalist It's Not Bitcoin..🤔💡